Hawaii Real Estate Exam State Portion Only (2
versions) Includes Accurate And Verified
Questions Focused On Hawaii-Specific Real Estate
Laws, Licensing Requirements, Agency
Relationships, Land Use Regulations, Time-Share
Laws, Escrow Procedures, Newest solution
How do you qualify to participate in the sale to owner-occupants in a
new condominium project?
a.)You must agree not to sell it for 48 months.
b.)You must agree to live in the property as your primary residence and
not rent it out more than two weeks during the first year.
c.)You must sign an affidavit stating you intend to live in it as your
primary residence for at least six months.
d.)You must sign an affidavit stating you intend to live in it as your
primary residence for at least the next 365 days. - ANSWER--d.)You
must sign an affidavit stating you intend to live in it as your primary
residence for at least the next 365 days. (You can't rent it at all during
the first year, or sell it. If you violate the terms of the affidavit, you can
be fined $10,000 or 50% of the proceeds from sale or rent, whichever is
greater.)
In Hawaii, which commercial transactions require agency disclosure?
a.)All sales, and leases for longer than one year
b.)Neither sales nor leases
c.)Sales, but not leases
, Hawaii Real Estate Exam State Portion Only (2
versions) Includes Accurate And Verified
Questions Focused On Hawaii-Specific Real Estate
Laws, Licensing Requirements, Agency
Relationships, Land Use Regulations, Time-Share
Laws, Escrow Procedures, Newest solution
d.)Transactions above $1 million in value - ANSWER--a.)All sales, and
leases for longer than one year
Which of these best describes a condominium property regime (CPR)?
a.)The condo developer's management phase
b.)The management structure of a condominium project
c.)The ownership structure and governance process for a condominium
project
d.)The REC's control over Hawaii condos - ANSWER--c.)The
ownership structure and governance process for a condominium project
In Hawaii, which of these actions would be considered discriminatory?
a.)Refusing to rent to a person who uses an emotional support animal
b.)Requesting verification of a disability that's not readily apparent
c.)Requiring a person with an assistance animal to pick up the animal's
waste
d.)Requiring a person with a therapy animal to obey leash laws -
ANSWER--a.)Refusing to rent to a person who uses an emotional
support animal
, Hawaii Real Estate Exam State Portion Only (2
versions) Includes Accurate And Verified
Questions Focused On Hawaii-Specific Real Estate
Laws, Licensing Requirements, Agency
Relationships, Land Use Regulations, Time-Share
Laws, Escrow Procedures, Newest solution
Laura has agreed to purchase Derrick's Oahu property using an
agreement of sale. Who holds legal title to the property during the term
of the loan?
a.)Both Laura and Derrick
b.)Derrick
c.)Laura
d.)The state - ANSWER--b.)Derrick
Typically, HREC would be responsible for placing a licensee on
involuntary inactive status. Who else has the authority to do this?
a.)Hawaii's licensing exam test provider
b.)The Hawaii Department of Corrections
c.)The Hawaii Department of Revenue
d.)The licensee's principal broker or broker-in-charge - ANSWER--
d.)The licensee's principal broker or broker-in-charge
Which of these is an example of a purchase money mortgage?
a.)Buyer Jethro doesn't have the full 20% down payment his lender
requires. To close the sale, seller Cindy will finance a loan for the gap
, Hawaii Real Estate Exam State Portion Only (2
versions) Includes Accurate And Verified
Questions Focused On Hawaii-Specific Real Estate
Laws, Licensing Requirements, Agency
Relationships, Land Use Regulations, Time-Share
Laws, Escrow Procedures, Newest solution
between Jethro's down payment and the amount the institutional lender
will loan. She'll place a lien on the property.
b.)Charles is selling his property to Seth. Charles is financing part of the
transaction for Seth, who will make payments to Charles while Charles
retains the property title.
c.)Elizabeth wants to make a 20% down payment on her mortgage loan.
She's short on cash right now, but will get a big payout soon. She
finances her home with a first mortgage, and takes out a second
mortgage to finance the down payment.
d.)Manuel is selling his home to Selena. He has an existing loan that
he'll continue to make payments on, and he's extending credit to Selena
for the balance of the purchase price. She will make monthl - ANSWER-
-a.)Buyer Jethro doesn't have the full 20% down payment his lender
requires. To close the sale, seller Cindy will finance a loan for the gap
between Jethro's down payment and the amount the institutional lender
will loan. She'll place a lien on the property.
How does tenancy differ from leasehold ownership?
a.)No notice is required to terminate a tenancy; 60 days' notice is
required to terminate a leasehold ownership.
b.)Tenancy has a defined end date; leasehold ownership does not.
versions) Includes Accurate And Verified
Questions Focused On Hawaii-Specific Real Estate
Laws, Licensing Requirements, Agency
Relationships, Land Use Regulations, Time-Share
Laws, Escrow Procedures, Newest solution
How do you qualify to participate in the sale to owner-occupants in a
new condominium project?
a.)You must agree not to sell it for 48 months.
b.)You must agree to live in the property as your primary residence and
not rent it out more than two weeks during the first year.
c.)You must sign an affidavit stating you intend to live in it as your
primary residence for at least six months.
d.)You must sign an affidavit stating you intend to live in it as your
primary residence for at least the next 365 days. - ANSWER--d.)You
must sign an affidavit stating you intend to live in it as your primary
residence for at least the next 365 days. (You can't rent it at all during
the first year, or sell it. If you violate the terms of the affidavit, you can
be fined $10,000 or 50% of the proceeds from sale or rent, whichever is
greater.)
In Hawaii, which commercial transactions require agency disclosure?
a.)All sales, and leases for longer than one year
b.)Neither sales nor leases
c.)Sales, but not leases
, Hawaii Real Estate Exam State Portion Only (2
versions) Includes Accurate And Verified
Questions Focused On Hawaii-Specific Real Estate
Laws, Licensing Requirements, Agency
Relationships, Land Use Regulations, Time-Share
Laws, Escrow Procedures, Newest solution
d.)Transactions above $1 million in value - ANSWER--a.)All sales, and
leases for longer than one year
Which of these best describes a condominium property regime (CPR)?
a.)The condo developer's management phase
b.)The management structure of a condominium project
c.)The ownership structure and governance process for a condominium
project
d.)The REC's control over Hawaii condos - ANSWER--c.)The
ownership structure and governance process for a condominium project
In Hawaii, which of these actions would be considered discriminatory?
a.)Refusing to rent to a person who uses an emotional support animal
b.)Requesting verification of a disability that's not readily apparent
c.)Requiring a person with an assistance animal to pick up the animal's
waste
d.)Requiring a person with a therapy animal to obey leash laws -
ANSWER--a.)Refusing to rent to a person who uses an emotional
support animal
, Hawaii Real Estate Exam State Portion Only (2
versions) Includes Accurate And Verified
Questions Focused On Hawaii-Specific Real Estate
Laws, Licensing Requirements, Agency
Relationships, Land Use Regulations, Time-Share
Laws, Escrow Procedures, Newest solution
Laura has agreed to purchase Derrick's Oahu property using an
agreement of sale. Who holds legal title to the property during the term
of the loan?
a.)Both Laura and Derrick
b.)Derrick
c.)Laura
d.)The state - ANSWER--b.)Derrick
Typically, HREC would be responsible for placing a licensee on
involuntary inactive status. Who else has the authority to do this?
a.)Hawaii's licensing exam test provider
b.)The Hawaii Department of Corrections
c.)The Hawaii Department of Revenue
d.)The licensee's principal broker or broker-in-charge - ANSWER--
d.)The licensee's principal broker or broker-in-charge
Which of these is an example of a purchase money mortgage?
a.)Buyer Jethro doesn't have the full 20% down payment his lender
requires. To close the sale, seller Cindy will finance a loan for the gap
, Hawaii Real Estate Exam State Portion Only (2
versions) Includes Accurate And Verified
Questions Focused On Hawaii-Specific Real Estate
Laws, Licensing Requirements, Agency
Relationships, Land Use Regulations, Time-Share
Laws, Escrow Procedures, Newest solution
between Jethro's down payment and the amount the institutional lender
will loan. She'll place a lien on the property.
b.)Charles is selling his property to Seth. Charles is financing part of the
transaction for Seth, who will make payments to Charles while Charles
retains the property title.
c.)Elizabeth wants to make a 20% down payment on her mortgage loan.
She's short on cash right now, but will get a big payout soon. She
finances her home with a first mortgage, and takes out a second
mortgage to finance the down payment.
d.)Manuel is selling his home to Selena. He has an existing loan that
he'll continue to make payments on, and he's extending credit to Selena
for the balance of the purchase price. She will make monthl - ANSWER-
-a.)Buyer Jethro doesn't have the full 20% down payment his lender
requires. To close the sale, seller Cindy will finance a loan for the gap
between Jethro's down payment and the amount the institutional lender
will loan. She'll place a lien on the property.
How does tenancy differ from leasehold ownership?
a.)No notice is required to terminate a tenancy; 60 days' notice is
required to terminate a leasehold ownership.
b.)Tenancy has a defined end date; leasehold ownership does not.
